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Recently, I was engaged in a conversation with a franchisor, inquiring about our lead generation services. The franchisor had spent considerable time contacting franchise search engine Web sites and essentially all described themselves as being the best and the number one site in generating quality leads interested in buying a franchise. And of course, because they were claiming to be the best, they felt very comfortable asking for a "king's ransom" in fees to participate.
With budgets as tight as they are, how does a franchisor choose the best Internet marketing partner? How do you know which sites offer the best value and services? You don't have to be an Internet expert to make the best decision. Here is some basic information and simple steps to guide your buying decisions.
Do Some Research: Think Like a Potential Franchisee. Before you pick up the phone to get some quick quotes, do some research. Place yourself in the shoes of a potential franchisee, and pull up the various franchise search engines. See how these Web sites work, including the quality of the graphics, the ease of navigating and accessing information, and finally, how easy is it to re q u e s t information. Then, see how well placed these sites are in the World Wide Web. It's simple. Just enter half-dozen combinations of search terms that are relevant to franchising, and see how well these sites pop up. These rankings are critical to the value of the site. Start with the major search engines like Google, MSN, Yahoo and AOL. Use the same search terms on each search engine. Look for a trend. Determine which franchise internet portals (aka Web site) are coming up the most and take this as a great sign that these might be a good marketing partner. Just remember, if the site doesn't pop up under the key search terms, the viewer can never get to your ad.
Looking for Quality Leads: Follow the Leaders Generating quality leads is not only the major thing, it's the only thing that matters in signing on with a franchise search engine. But how can you know which sites deliver? One way is to follow the leaders, who presumably have already done the homework. Go to the lead generation Web sites. Look to see how many top franchisors currently utilize their services. This is an excellent guide because the leaders in the franchise community typically have the best resources when making marketing decisions. These franchisors invest substantially in analyzing and tracking lead sources to determine which ones are delivering quality. Take note of which sites have the majority of top franchisors participating. And, during the sales process, remember to ask how long these industry leaders have been on the site, and if they are "paying" advertisers. If the big-hitters employ their services (and pay for it), it could be a good bet that the site produces solid and legitimate leads. These franchisors don't waste their money.
Don't Waste Your Money: Hot Leads vs. Warm Leads There's a practice among Internet Web sites that will shock and amaze you. Old or "warm" leads (which previously requested information on other opportunities) are sent to you camouflaged to look like actual real time "hot" and legitimate leads. Often these leads are seven to 30 days old (or older), and have never heard of your franchise. This practice is used to inflate your true lead volume and it's becoming increasingly prevalent with sites that choose to sell leads to you on a cost-per-lead basis. Here's a Fact That May Shock Your Wallet Would it surprise you to know that leads that respond to your ad in the search engine are also being sent to your competitors? Have you ever suddenly lost a hot prospect that was in the late stages of discovery? Did the prospect just become cold or perhaps they "out of the blue" discovered several of your competitors? Remember those warm leads that you've been receiving? Can you guess who's paying money to generate the leads that are fueling your competitor's expansion? On many sites, you are.
Something Else You're Not Supposed to Know Many Web sites will form a marketing list of all leads and then sell the leads over and over again to companies that target this market. There are multiple franchisors and business opportunities which view their internal sales operations as telemarketing and they are constantly looking to buy such lists. And with price tags of $3 to $10 for each lead, it's easy to understand why many leading Web sites cannot fight the urge to sell your leads. In fact, the lead-frenzy is so great; we've even had competing search engines contact us about buying our leads in bulk.
Internal effects to Franchise Organizations Our company views the above lead practice as unethical. But, what happens internally to your franchise organization when falling victim to these practices? It's really quite simple; your company will suffer loss of time, money and organizational morale. In selecting web sites, there are two critical items to look for: Which ones generate quality leads, and which of those sites will protect them for your company's use only. There are many ethical Web sites within the franchise sector which embrace legitimate lead generation and privacy practices. Select your franchise search engine partners carefully and you'll prosper. Check references, be knowledgeable and do your homework. The Internet as a lead-generation provider has become the true shopping source for franchisees. Learn to use it effectively, and you're on your way to real growth. |